Core Insights - Rigetti Computing plans to invest up to $100 million in the UK to develop a quantum computing system with over 1,000 qubits within the next 3 to 4 years, marking its first major investment outside the US [1] - The UK government has announced a £2 billion investment program aimed at establishing the UK as a global leader in quantum computing [1][4] Investment and Development - The investment will accelerate quantum computing development in the UK, aligning with the UK's national quantum computing strategy [3] - Rigetti aims to achieve a quantum system capable of one trillion quantum operations (TeraQuOp) by 2035, establishing critical milestones for innovation [3] Collaboration and Ecosystem - Rigetti's presence in the UK has been characterized by successful collaborations across industry, government, and academia, highlighting the UK's commitment to advancing quantum technology [2] - The UK government's focus on end-user engagement and on-premises capabilities is seen as a significant factor in driving the quantum computing sector forward [2][5] Existing Infrastructure - Rigetti has a history of involvement in the UK, including the deployment of a 36-qubit quantum system at the National Quantum Computing Centre, which is part of a consortium focused on quantum error correction [5] - The company operates quantum computers through its Rigetti Quantum Cloud Services (QCS) platform, providing high-performance integration for various clients [8] Technological Advancements - Rigetti's quantum computers utilize superconducting qubits, which are recognized for their maturity and scalability, achieving gate speeds of 50-70 nanoseconds, significantly faster than other modalities [6] - The company has developed the industry's first multi-chip quantum processor and deployed the largest multi-chip quantum computer in 2025 [9]

Core Insights - Rigetti Computing achieved significant advancements in quantum computing technology, including a two-qubit gate fidelity of 99.9% at a gate speed of 28 nanoseconds, indicating strong progress in their quantum-classical computing strategy [3][12]. Financial Performance - For Q4 2025, total revenues were $1.9 million, with an operating loss of $22.6 million and a GAAP net loss of $18.2 million, translating to a net loss per share of $(0.06) [9][30]. - For the full year 2025, total revenues amounted to $7.1 million, with a GAAP net loss of $216.2 million and a net loss per share of $(0.70) [9][30]. Business Developments - Rigetti secured an $8.4 million purchase order from India's Centre for Development of Advanced Computing for a 108-qubit on-premises quantum system, expected to be deployed in H2 2026 [7]. - The company anticipates significant revenue growth in Q1 2026, driven by previously announced orders totaling $5.7 million for Novera on-premises systems [6]. Technology Advancements - Rigetti's chiplet-based architecture is highlighted as a scalable solution for large-scale quantum systems, allowing for increased qubit counts while maintaining control over chip uniformity [5][13]. - The company continues to improve fidelity across its systems, achieving 99.9% one-qubit gate fidelity and median two-qubit gate fidelities of 99.7% on its 9-qubit system and 99.6% on its 36-qubit system [12]. Strategic Partnerships - Rigetti's ecosystem of partners, including Riverlane, NVIDIA, Quanta Computer, and QphoX, enhances its innovation capabilities across the quantum computing stack [5][6].

Core Viewpoint - Rigetti Computing has secured an $8.4 million purchase order to deliver a 108-qubit quantum computer to the Centre for Development of Advanced Computing (C-DAC) in India, highlighting the increasing demand for on-premises quantum computing systems as governments prioritize quantum technology [1][3]. Company Overview - Rigetti Computing is a pioneer in full-stack quantum computing, utilizing superconducting qubits, which are recognized for their scalability and fast gate speeds, achieving 50-70 nanoseconds, significantly faster than other modalities [5]. - The company operates quantum computers through its Rigetti Quantum Cloud Services (QCS) platform, providing high-performance integration with public and private clouds for practical quantum computing [7]. - Rigetti's systems range from 9-qubit to 180-qubit quantum computing systems, designed to support national laboratories and quantum computing centers [6]. Partnership and Development - The order from C-DAC builds on an existing partnership, with a memorandum of understanding signed in September 2025 to co-develop hybrid quantum computing systems for government laboratories and academic research [4]. - Rigetti's proprietary chiplet-based architecture is central to its strategy for scaling to high qubit count systems necessary for error correction and fault-tolerant quantum computing [2]. C-DAC Overview - The Centre for Development of Advanced Computing (C-DAC) is a premier R&D institution under the Ministry of Electronics and Information Technology in India, focusing on enhancing national technological capabilities and responding to market needs in information technology [9][10]. - C-DAC is engaged in significant projects in quantum technologies, including the development of quantum accelerators and a national quantum computing reference facility [12].

Core Insights - Rigetti Computing is revising its roadmap and adjusting the general availability date for its 108-qubit quantum computing system, Cepheus™-1-108Q, now expected by the end of Q1 2026 [1] Group 1: System Development and Performance - The company is making strong progress with Cepheus-1-108Q but is taking additional time to test and optimize the system to meet performance standards [2] - Rigetti aims to achieve a median two-qubit gate fidelity of 99.5% and has reported current fidelities of 99% for the 108-qubit system, 99.7% for the 9-qubit system, and 99.6% for the 36-qubit system [2] - Cepheus-1-108Q is based on twelve 9-qubit chiplets and utilizes Rigetti's proprietary modular chip architecture, making it the highest qubit count system to date and the largest modular quantum computing system in the industry [2] Group 2: Technology and Infrastructure - Rigetti's quantum computers are based on superconducting qubits, which are considered the leading qubit modality due to their maturity, scalability, and fast gate speeds [3] - The current gate speeds for Rigetti's quantum computing systems range from 50-70 nanoseconds, which is approximately 1,000 times faster than other modalities like ion traps and neutral atoms [3] - The company operates quantum computers via its Rigetti Quantum Cloud Services (QCS) platform, providing high-performance integration with public and private clouds for practical quantum computing [4] Group 3: Product Offerings - Rigetti sells on-premises quantum computing systems ranging from 9 to 108 qubits, supporting national laboratories and quantum computing centers [5] - The 9-qubit Novera QPU is designed for high-performance, on-premises use, allowing integration with existing cryogenic and control systems [5] - Rigetti developed the industry's first multi-chip quantum processor for scalable systems and deployed the largest multi-chip quantum computer in 2025 with Cepheus-1-36Q [6]